PebHmong Discussion Forum
General Category => General Discussion => Topic started by: theking on March 31, 2025, 12:25:03 AM
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..about him and his billionaire friends pocketing more money like other crooked politicians...
Warned car tariffs will cost Americans $100 billion, Trump White House won’t budge: ‘We must become a manufacturing powerhouse’
Trump’s 25% auto tariffs will unleash “pure chaos,” according to Wedbush analyst Dan Ives, but the Trump administration argues it is rebuilding an industry the U.S. squandered over decades through the wrong trade policies.
Dan Ives already has a phrase to describe President Donald Trump’s punitive 25% duty on imported cars—he’s calling it the “tariff announcement heard around the world.”
The Wedbush Securities analyst warns no one will be spared in the coming Carmageddon, least of all Americans. By his calculations, the expected collective hit to U.S. consumers ranges on the order of $100 billion every year as automakers pass on the full brunt of the costs.
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Trump says he ‘couldn’t care less’ if auto prices rise because of tariffs
President Donald Trump said Saturday he doesn’t care if automakers hike prices because of his tariffs. In fact, he encouraged them to.
Asked by NBC News’ Kristen Welker in a phone interview about whether he pressured automakers to avoid raising prices after his 25% tariffs on imported cars and parts go into effect, Trump denied that he told CEOs to control costs.
“No, I never said that,” Trump told Welker. “I couldn’t care less if they raise prices, because people are going to start buying American cars.”
The Wall Street Journal reported Thursday that Trump held a call this month with auto CEOs and threatened them with even heftier tariffs if they raise prices because of the import taxes. But Trump on Saturday said he hopes his tariffs lead to higher prices, because it will encourage automakers to build their cars and parts in the United States and persuade customers to buy American.
“I couldn’t care less,” Trump said. “I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty.”
After the interview, an aide to the president followed up with NBC News to say that Trump was referring specifically to foreign car prices.